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Igmarkets.com Review

Overall Rating: (1.856)
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Total Reviews: 102
Last Updated: 2015-07-19
Special Notes:

Other websites of this company: IGFOREX.COM

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David Stein, , Australia

Rating:
Date of Post:2013-11-29
Review: Thanks to this forum and fellow reviewers. I have deceided to stop trading and get all my money out of my IG Markets account ( Now IG.com.au ). They will make you think that your successful to get your confidence up. Then after you have taken bigger and more risky trades. They start there cheating, and use many criminal tricks. Thanks to this forum .I know have realized that Ig Markets has changed there PDS for the fourth time this year. www.IG.com.au current Australian PDS "product disclosure document" is as follows. Electronic Transactions: Page 20 Paragraph 2 "We have no obligation to accept or to execute or Cancel".Also (Point(4)You acknowledge we have the right unilaterally and with immediate effect, to suspend or terminate at anytime, with or without cause or prior notice" Also 10. Manifest Error: Page 21, p1. We reserve the right to, without your consent, either void from the outset or amend the terms of any Transaction. Also this is hidden in the MISCELLANEOUS: page 28, p1, We reserve the right to Suspend your account at any time. If we Suspend your account, it means that: you will generally not be permitted to open any new Transactions or increase your exposure under your existing Transactions, but you will be permitted to close, part close or reduce your exposure to us under your existing Transactions; you will no longer be permitted to trade with us via our Electronic Trading Service, rather you will be required to trade with us via the phone( NOTE: PHONE!). Also read paragraph 7,8. PROVIDING A QUOTE: Page 18, p4, p2, p2-5,p3,p7. MARGIN AND MARGIN CALL PRACTICES: page 24, p6. THE SERVICES WE WILL PROVIDE: page 17, p3,p4,p4-b,p4-c,p5,p5-b,p8, MUST READ (P10). CONFLICTS OF INTEREST: Page18, p2-b,p2-d,p2-e,p2-f,p4. AGENTS is now located in DEALS PROCEDURES: Page 21, p1. COMMUINCATIONS: Page 23, P1,p3,p4,p9,p12,p13,p14. FORCE MAJEURE EVENTS: Page26, p1, p2, p2-b, p2c. These UK companies are being protected in Australia because we have an English/Welsh based legal system, they know the legalese loopholes. Bucketshop, professional criminals and all is true what some of the previous reviewers have written. There employees must inform the relevant authorities to take action. A whistle blower is a hero in my books!. Also to close your account you must call the dealer and force them to close all your orders. You can trust me because I have all ready done it. Thank you for saving me and my savings.
Note P,p = Paragraph

SS, , Singapore

Rating:
Date of Post:2013-10-23
Review: Stay away from this broker, they charge interests for all long and short positions. They have this special "force Key" which will close your holding positions if you forgot to click it when opening new positions. Their platforms is filled with layers and layers of unnecessary mouse clicks to access anything. Their equity and amount due status is always wrong.

Jorge Costa, Lisbon, Portugal

Rating:
Date of Post:2013-08-24
Review: They trade all in CFDs, means, they can delay feeds data as please. I have Nsdaq Station in Silver light, and once even sold an order at a price that that marker audusd, dint reached. Also, they agregate small orders from clients, and hunt trailings...
The only Trading Product worthy is Gold due to an alert of price based on % variation, wich makesu never miss a Gold rush. And since gold they dont hedge...you win!!

Duff Cooper, , Australia

Rating:
Date of Post:2013-08-17
Review: IG Markets (IG Group) allegedly are a "Bucket shop" and "Boiler room shares". I have traded with this company since 2006. They are dispicable and there employee's must have no soul. One of the previous reviewers Damien, had a smart Idea to quote the legalese. He was right because there new "product disclosure document" has been changed. So I will now quote on what page's you must read. Starting with:Page 21 paragraph 2 "We have no obligation to accept or to excute or Cancel". Also (P) 3&4You acknowledge we have the right unilaterally and with immediate effect, to suspend or terminate at anytime, with or without cause or pior notice. All or any part of our electronic service. Page 19 paragraph 4: At our discrection, treat such a transaction as void. Also of the utmost importance read these pages and paragraph's, Page 4 (3.11, 7), P5 (3.11), P9 (4.1, 7.10), P16 (9.1), P18 (2.4,9,10), P19 (2.d, 3, 4, 7), P22 (9.1,10.1, 11.1), P23 (13.1, 13.2, 14), P29 (26.1, 7). Bucket shops were banned in America after the 1930s stock market crash. Why is the Australian Securities and Investments Commission protecting Cfd providers. I feel in my opinion they are traitors to all investors. Anyway please talk screenshots, video and record all conversations. And never use there internal email(page23, *13.1). They are professional soulless criminals. Good luck Duff Cooper and Thank you to this forum for standing up for all of us!.

steve, papamoa, New Zealand

Rating:
Date of Post:2013-07-21
Review: Ive been trading for 10 years now and once you start making money with IG you will come under their radar and they will begin employing dirty tricks

Damien Chalmers, Sydney, Australia

Rating:
Date of Post:2013-02-24
Review: IG Markets allegedlly is a "Bucket Shop. Cheating you out of your money is there game.It must be said that they will target larger traders not the small guys. Also I am not an Employee of IG Markets, which I allege that some of the previous reviewers may be?.Anyway I have traded with IG Markets for almost seven years but never again. My past experience trading has involved, CFD trading on gobal shares, including longs and shorts, and forex. After reading there recent product disclosure statement. Particular attention must be applyed to: page8 (2) We have no obligation to accept or to ecute or Cancel.
Page8(4) You acknowledge we have the right unilaterally and with immediate effect, to change all or any part of our Electronic trading servive. Or to change the nature, compostion or availabilty.
Page21(11.1) We may at our absolute discretion accept an order from you.
Page23(B.14) If for any reason, we are unable to accept your offer electronically, we may( Defined as wish or hoped) with out abiligation provide you with further information.
Also read P28 and page 26(1) and (7)
In simple terms you must film and take screenshots and watch your trading 24hours a day. Because it is your own responsibilty to tell and report to IG Markets . But they decide how they choose to SCAM you. BAN the Bucket Shop. I can only ask to to do your own research. Good on you Steve C for standing up to IG Markets.
And yes I traded a large sum of money with IG Markets.
Damien Chalmers

Review Moderation Team Note: We screen reviews very carefully. It is possible that a few fake ones slip through and a few real ones get caught, but we are confident that the vast majority of the reviews displayed are real.
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Seth, auckland, New Zealand

Rating:
Date of Post:2013-02-22
Review: Started using IG Markets off & on since about 3 years ago.

Got really serious in trading last year JUL-12... although lost a fair bit of money as a result of MY OWN Actions and NOT their fault.

Then took a break and restarted around Xmas - 12 since then have banked a fair amount in profits. Never had a hassle with my trade as such. Yes I have noticed there is slippage is your Stop Loss is close the Market Price to close out your trade.

But I am being proactive when trading hence conduct Stop Loss on my own rather than stipulate that thresh-hold. i.e. my SL point in much lower than when what I intend to conduct the SL on my own.

In terms of Money cash-in great, prompt and efficient quick balance update. In terms of Money cash-out have been very efficient I see the money come in about 1-2 days after requesting it. It is more dependent on the cut-off times from banks otherwise sometimes my money shows up in 1 day even on Saturday when it has been cashed-out on Friday Afternoon.

Now I am quite worried reading all the other reviewers from 2011 & 2010 as there is a fairly large amount over $100k of mine with them... so hoping that the issues other have faced have been screened by them, addressed and rectified. Hence it is somewhat re-assuring reading the 2013 Reviews online.

P.S. For Feb alone running $37k profits. There has been one instance where my limit point was not struck but I luckily I was watching the market and saw that the market reached that point and dashed back in mili-seconds hence could be the result of that. I guess we do have to understand they have a spread around the real price... hence whilst a Limit Point may strike on the IG Platform in real-time it may still be a few cents away, hence pertaining to the reason why the order was not closed. Having said so the market moved in favor once again later that day so the Limit Point was picked up (plus a few pips) in my favor :)

FYI I am only trading SHARES hence I could be WRONG when it FX Traders and their experiences.

Peter, Adelaide, Australia

Rating:
Date of Post:2013-02-17
Review: I have used IG Markets "on and off" for about 7 years now (since 2005). I have never had any problems with either their platform or execution of trades. I have lost money in the past but that has been entirely the result of my own trading decisions, not the broker. I only trade CFDs on shares with them these days but have done forex in the past.

The only criticism I can think of, is that if you set a "limit order to open with them" because you can't be there when the stock market opens - and the market opens significantly away from your limit price, they will still take your trade at the limit price you asked, which means they must widen the spread for the purpose of making a sale.

Apart from that, my dealings with them have been completely pain free and efficient and according to what I would expect. From my perspective, it seems like there are a lot of whingers on here, who may be blaming the broker for products they do not understand.

SANDY, SYDNEY, Australia

Rating:
Date of Post:2013-02-06
Review: Have been using this broker for last few years. Excellent platform especially i love the advanced charting... they are continuously trying to improve the platform and take the feedback seriously. So far had no problems getting the money out from the account. I've done day trading on the platform with no problems. Very occasional glitches are noticed but 99.99% times no problems. The glitches are not costly (things like order could not be filled as price changed within seconds etc). Wouldn't go to other broker now (unless IG does something silly!)... Cheers

Steve C, Sydney, Australia

Rating:
Date of Post:2013-02-03
Review: I have used IG Markets from 2006 to 2011. They are alleged professional scam in my opinion. They will cheat you because they have powers that even a casino does not have. I have traded share's and forex with IG Markets. There puredeal online platform is a legal scam. They will refuse your trades if you are to profitable. Or leverage up to much so they can wipe you out. One important thing that I must tell you all is that when they do margin calls they will use market quotes and not the last traded price so beware on the volatile days because if there are no quotes kiss your cfd good bye and all your money!.They know every legal loop hole in Australia. Americians call these companies "Bucketshops" and I agree!. Also the last review is wrong mastercard fees are 1.5%. And transfer take overnight. Please listen to me and read there product disclosure statement. most important of all do not trade with IG Markets because 90% of all CFD traders loss money it is a fact!. I wish all good luck.
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